Overview

A class action lawsuit has been filed against Hub Group, Inc. (“Hub Group” or the “Company”) (NASDAQ: HUBG), and certain of the Company’s current and former senior officers, alleging violations of the federal securities laws. The Hub Group lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Hub Group securities between April 28, 2023, and May 11, 2026, inclusive (the “Class Period”). Investors have until August 28, 2026, to seek appointment as lead plaintiff of the Hub Group class action lawsuit.

Hub Group is a transportation logistics company that provides trucking services across North America. The Company operates through two primary business segments: Intermodal and Transportation Solutions, which includes trucking operations, and Logistics, which provides additional supply chain services to customers.

The complaint alleges that, throughout the Class Period, Defendants misled investors by issuing materially misstated financial reports and making public statements concerning Hub Group’s revenue, operating income, expenses, cost controls, internal controls, and drivers of financial results and growth. According to the complaint, Hub Group’s purchased transportation and warehousing costs were the Company’s largest operating expense, representing approximately 74% to 76% of revenue from 2022 through 2024.

Plaintiff alleges that Hub Group’s financial statements for 2023 and 2024 were materially misstated because the Company prematurely or incorrectly recognized certain transactions. The complaint further alleges that Hub Group’s financial statements for the first three quarters of 2025 were materially misstated because the Company understated purchased transportation costs and accounts payable.

Furthermore, Defendants assured investors that the Company’s internal disclosure controls and procedures were effective. Defendants also allegedly attributed improvements in purchased transportation and warehousing costs to factors such as strong cost controls, lower rail costs, lower third-party carrier costs, lower warehouse expenses, and the completion of network optimization efforts. Plaintiff alleges that these statements were misleading because they failed to disclose that the Company’s reported results were materially misstated and that Hub Group lacked effective controls over financial reporting.

The truth began to emerge on February 5, 2026, when Hub Group announced that it would restate its financial statements for the first, second, and third quarters of 2025 due to an error that resulted in the understatement of purchased transportation costs and accounts payable during the first nine months of 2025. Hub Group disclosed that its reports for those quarters were materially misstated and should no longer be relied upon, and estimated that the total reduction to accounts payable and purchased transportation costs related to the issue was $77 million.

Following this disclosure, Hub Group’s stock price fell approximately 18%, from $51.33 per share at the close of trading on February 5, 2026, to $41.96 per share at the close of trading on February 6, 2026.

Then, on May 12, 2026, Hub Group announced that it had identified certain transactions that were prematurely or incorrectly recognized or not adequately supported, causing its 2023 and 2024 annual reports to be materially misstated and no longer reliable. The Company also stated that it expected to conclude that it did not maintain effective disclosure controls and procedures or effective internal control over financial reporting for each of the years ended December 31, 2023 and December 31, 2024.

On this news, Hub Group’s stock price fell an additional 13%, from $41.86 per share at the close of trading on May 11, 2026, to $36.62 per share at the close of trading on May 12, 2026.

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If you purchased or otherwise acquired Hub Group securities between April 28, 2023, and May 11, 2026, and you wish to serve as lead plaintiff in this lawsuit, you are encouraged to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt attorneys Brian O’Mara and Hani Farah by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the Hub Group class action lawsuit is August 28, 2026.